Twirling ballerinas, an acrobat, and love potion: inside a party on the first night of JPM

first_img Tags financepharmaceuticalsSTAT+ Log In | Learn More GET STARTED Alex Hogan/STAT Twirling ballerinas, an acrobat, and love potion: inside a party on the first night of JPM Unlock this article — plus daily market-moving biopharma analysis — by subscribing to STAT+. First 30 days free. GET STARTED What is it? What’s included? STAT+ is STAT’s premium subscription service for in-depth biotech, pharma, policy, and life science coverage and analysis. Our award-winning team covers news on Wall Street, policy developments in Washington, early science breakthroughs and clinical trial results, and health care disruption in Silicon Valley and beyond. By Rebecca Robbins Jan. 10, 2017 Reprints Daily reporting and analysis The most comprehensive industry coverage from a powerhouse team of reporters Subscriber-only newsletters Daily newsletters to brief you on the most important industry news of the day STAT+ Conversations Weekly opportunities to engage with our reporters and leading industry experts in live video conversations Exclusive industry events Premium access to subscriber-only networking events around the country The best reporters in the industry The most trusted and well-connected newsroom in the health care industry And much more Exclusive interviews with industry leaders, profiles, and premium tools, like our CRISPR Trackr. SAN FRANCISCO — On a night when pricey booze flowed at drug industry-sponsored parties all over this city, the bar was high for the most lavish bash of the evening. But the party thrown Monday night by Johnson & Johnson’s innovation unit cleared it. Easily.Held under dramatic colored lighting in the stately and cathedral-esque Asian Art Museum, the Johnson & Johnson JLABS bash drew hundreds of executives and investors in town for the industry’s annual J.P. Morgan Healthcare Conference. Business last_img read more

IIAC asks Finance to automatically designate exchanges approved by regulators

Keywords Stock exchangesCompanies Investment Industry Association of Canada The Investment Industry Association of Canada is calling on the Department of Finance to automatically designate stock exchanges that are approved by securities regulators so that investors can hold the products they trade in registered accounts. In a letter to Finance dated May 24, the IIAC recommends that once they are approved by securities regulators for operation, Canadian exchanges “should be qualified automatically as designated exchanges on which many trade investments can be held in Canadian investors’ RRSPs, RRIFs, DPSPs and TFSAs.” TMX caps stronger 2020 with Q4 profits growing to $71.8 million Facebook LinkedIn Twitter Related news TSX proposes flat fee for retail market data U.S. exchanges scrap political contributions Income tax rules require that the holdings of registered accounts trade on “well-governed, regulated and transparent markets”. In its letter, the IIAC says that it supports the creation of new exchanges that will promote liquidity, and thereby encourage economic growth. And, it says, that to receive regulatory approval these exchanges will have been subject to extensive due diligence by the regulators, and will be face ongoing oversight, too. While the IIAC concedes that new exchanges will initially lack the liquidity of more established venues, it maintains that three factors mitigate this concern: extensive disclosure requirements, market pressure from sophisticated investors, and the suitability obligations of retail advisors. It says that expediting designation “will more quickly contribute to liquidity, promote capital formation and enhance the competitiveness of Canadian capital markets.” The IIAC also specifically, supports the request of Alpha Exchange Inc. for designation of its markets, and a request from the TMX Group for the addition of NEX to the TSX Venture Exchange’s designation. Share this article and your comments with peers on social media James Langton read more

IIROC to strengthen benchmark rate oversight

Companies Investment Industry Regulatory Organization of Canada James Langton IIROC’s review comes following the discovery that firms involved with the setting of the benchmark London Interbank Offered Rate (LIBOR) rate in the UK engaged in manipulation designed to benefit their own trading positions and their perceived creditworthiness. That scandal has alerted regulators around the world to possible risks in benchmark setting. However, IIROC’s review was not an investigation into potential manipulation of CDOR. Rather, it examined the benchmark’s operation and supervision generally, and concluded that some reforms are required. “Steps can and should be taken to strengthen the safeguards around the integrity of CDOR for its ongoing use with respect to BAs and other instruments,” it says. In particular, it recommends that there should be specific documented criteria for participation in the rate setting process; more explicit documentation regarding the definition, calculation methodology and transparency of CDOR; and, documented regulatory expectations for participants’ supervision of rate-setting activity and controls to prevent potential manipulation. Unlike the Wheatley Review in the UK, IIROC did not find that CDOR should be based on actual transaction data, rather than firms’ estimates, noting, “this approach may not be so appropriate for CDOR, given its differences from LIBOR and other similar benchmarks.” Although, it allows that, “This is a point which the relevant authorities will need to consider further.” IIROC says it has shared the results of its review with the Bank of Canada, the federal Department of Finance, and other Canadian regulators, and that these authorities have agreed to consider the issues identified in the review; along with issues identified in ongoing international work on benchmarks. “IIROC initiated this policy review of current practices among CDOR survey participants in 2012 in light of global developments relating to survey-based reference rates and to strengthen the oversight of CDOR going forward,” said Susan Wolburgh Jenah, president and CEO of IIROC. In the wake of a rate scandal in Britain, Canadian regulators have examined the setting of a Canadian benchmark rate, concluding that some changes are in order. The Investment Industry Regulatory Organization of Canada (IIROC) Thursday published the results of its review of the Canadian Dealer Offered Rate (CDOR), which is a benchmark index for Canadian bankers’ acceptances that serves as a reference rate for futures contracts, forward rate agreements and swaps. Share this article and your comments with peers on social media Facebook LinkedIn Twitter read more

FINRA improves expungement process to protect investors

first_imgJames Langton Registration proves elusive for crypto firms: FCA The CRD system, which is an online registration and licensing system, contains information regarding brokerage firms and reps, including personal, registration and employment history, along with information on criminal matters, regulatory and disciplinary actions, civil actions and information relating to customer disputes. Brokers who wish to have customer dispute information removed from the CRD system must obtain a court order. FINRA says that today’s proposal is designed to help ensure that the CRD system continues to contain information that is critical to investor protection. It will be submitted to the U.S. Securities and Exchange Commission (SEC) for public comment and approval. “We continually make improvements to the arbitration and expungement process to further enhance investor protections. FINRA feels strongly that expungement of customer dispute information shouldn’t be “bargained for” through settlement negotiations or otherwise,” said Richard Ketchum, FINRA chairman and CEO. Unilateral Ontario reforms could hurt harmonization, provincial regs warn Related news Keywords RegistrationCompanies Financial Industry Regulatory Authority center_img OSC steps up crypto enforcement Facebook LinkedIn Twitter Share this article and your comments with peers on social media U.S. securities regulators are proposing a rule that would prevent firms and reps from making settlements with clients conditional on the clients agreeing not to oppose efforts to sanitize reps’ public disciplinary records. The Financial Industry Regulatory Authority (FINRA) said Thursday that its board of governors approved a rule proposal that would prohibit firms and reps from making settlements of customer disputes conditional on an agreement not to oppose a request to expunge information from a rep’s record with the Central Registration Depository (CRD). last_img read more

IIAC seeks nominations to Investment Industry Hall of Fame

first_img Keywords AwardsCompanies Investment Industry Association of Canada Related news Nominations open for two FP Canada awards A maximum of four living and four posthumous candidates are inducted into the IIAC’s Investment Industry Hall of Fame annually. Inductees are chosen based on the their impact on the industry as well as their demonstrated leadership, ethics and social responsibility. A full list of criteria can be found at the following link: http://iiac.ca/wp-content/uploads/Call-for-2016-IIAC-Investment-Industry-Hall-of-Fame-Nominations.pdf. The inductees are chosen by an independent committee, which is comprised of distinguished Canadians who work, or have worked, in the investment industry, business, politics, law or academia. The IIAC does not partake in any deliberations. Nominations will be accepted until May 31 at 5 p.m. ET. The inductees will be recognized at a gala dinner in Toronto on Oct. 27. The Toronto-based Investment Industry Association of Canada (IIAC) has opened the nomination process for the 2016 class of its Investment Industry Hall of Fame and the association is looking for those who have shown excellence, intelligence and integrity while working in the country’s investment industry. “We are proud to honour outstanding individuals for their contributions to Canada’s investment industry, local communities and to Canada,” says Ian Russell, president and CEO of the IIAC, in a statement released on Tuesday. “The 2016 inductees will join the distinguished list of past inductees, who have set such a high standard of excellence, innovation and social responsibility.” Share this article and your comments with peers on social media Facebook LinkedIn Twitter Tessie Sanci Top Canadian hedge fund returns 16% over 10 years Whistleblower, reporter receive anti-corruption prizelast_img read more

Virtu Financial to acquire ITG for US$1 billion

first_imgFinancial Technology concept illustration of Businessman pointing at abstract blue business charts and icons peshkova/123RF Facebook LinkedIn Twitter CI acquires US$5.1B San Diego-based RIA Related news “Virtu’s focus and investment in our agency offering is evidenced by the continued growth in our business and the strong uptick we’ve seen this year and through October. The combination announced today brings together complementary strengths that amplify our ability to help our clients source liquidity and improve their workflow,” said Cifu in a statement.“We are fully committed to growing and improving the complete agency execution offering that ITG’s clients use every day — liquidity, execution services, workflow technology and analytics,” he added. “This combination will leverage Virtu’s financial technology — the same technology that drives our market making performance — to optimize all aspects of the business, from order routing and algo[rithm] performance to middle- and back-office efficiency.”Virtu is funding the acquisition with a US$1.5-billion debt financing arranged by Jeffries Group LLC and Royal Bank of Canada, both of which also provided financial advice to the firm. The deal has been approved by the boards of both companies; and, is expected to close in the first half of 2019, subject to ITG shareholders’ and regulators’ approval.“After careful consideration, ITG’s board of directors determined that the proposal from Virtu, which provides an immediate and significant cash premium, offers the most value for ITG stockholders,” said Minder Cheng, chairman of ITG’s board, in a statement. “The combination of Virtu and ITG will create an industry-leading financial technology franchise with true global capabilities and scale.” High-frequency trading firm Virtu Financial Inc. is buying agency broker Investment Technology Group Inc. (ITG), both based in New York, in a US$1-billion all-cash transaction.The deal is designed to build scale in Virtu’s institutional agency operations while diversifying its overall business. Virtu’s CEO, Doug Cifu, will remain CEO of the combined company. Cidel Asset Management to acquire fixed income manager James Langton Keywords Mergers and acquisitions Share this article and your comments with peers on social media Desjardins buys Montreal boutique firm Hexavestlast_img read more

More Assistance for Aspiring Business Owners

first_imgRelatedMore Assistance for Aspiring Business Owners RelatedMore Assistance for Aspiring Business Owners RelatedMore Assistance for Aspiring Business Owners More Assistance for Aspiring Business Owners UncategorizedJune 8, 2007center_img FacebookTwitterWhatsAppEmail The Jamaica Business Development Centre (JBDC) has formed a partnership with the Rural Enterprise, Agriculture and Community Tourism Programme (REACT), in order to provide additional training and assistance to aspiring business owners in rural communities across Jamaica.The information is contained in a Ministry Paper tabled in the House of Representatives this week by Minister of Industry, Technology, Energy and Commerce, Phillip Paulwell.The intervention by the JBDC will see entrepreneurs in various communities throughout the island receiving training in business development, where they will be exposed to the elements of business planning, the legal requirements for operating a business in Jamaica, and provided with information on lending agencies that can provide loan capital for startup.Technical assistance will also be provided, while viable enterprises will be overseen by the programme for a period of six months, to lessen business failure in the startup stages.The REACT programme, which started in 2005, has the goal of reducing poverty and spurring economic growth through the development of environmentally sound rural enterprises.One of the programme’s main objectives is to expand business linkages between agricultural producers and processors, and agribusiness and tourism. Advertisementslast_img read more

Women leading charge at TAFE

first_imgWomen leading charge at TAFE Minister for Employment and Small Business and Minister for Training and Skills Development The Honourable Di FarmerTAFE Queensland is helping more women across the state unlock new careers.That includes breaking the barriers into traditionally male dominated industries.Minister for Employment and Small Business and Minister for Training and Skills Development Di Farmer said the number of women enrolled in TAFE and then obtaining their qualifications is increasing.“During COVID-19 we know that more women lost their jobs,” Minister Farmer said.“We needed to address that head on.“So far this financial year female enrolments across TAFE Queensland have increased by around 7,375 compared to the same period in 2019-20.“Women enrolling in construction is the standout figure, with an increase of more than 200 when compared to the same period last financial year.“There have also been big increases in women enrolling in automotive, engineering, hospitality and retail.“This is great news with an increase of 1,164 more women completing their qualifications this year when compared to the same period in 2019-20.There have been 38 more women in Construction,156 more women in Primary Industries, 84 more women in Laboratory Operations and 40 more women in Health who have graduated.Fiona Lamari co-Vice President of NAWIC said an increase in the number of women taking up training means more women are likely to get jobs, including more women jumping the hurdle into male-dominated industries.“Many employers and industries that were struggling to find skilled workers are looking to recruit, train and retain more women in their workforces,” Ms Lamari said.Minister Farmer said the Palaszczuk Government’s Free TAFE and Free Apprenticeships programs are funding the training costs for women to take up in-demand apprenticeships, traineeships or other vocational education and training qualifications.“This allows young people to focus on their studies and work without the worry of training debt,” Ms Farmer said.“Employers, colleagues, industries, schools and parents need to continue playing their roles supporting more women to commence and complete their studies and to build careers in their trades of choice.“The Palaszczuk Government has invested more than $150 million to revitalise TAFE infrastructure across Queensland since 2017.“Our Government is also covering the training costs for eligible young people up to 25 years old to study in-demand qualifications.”“The investment of $21 million to extend the free training to under 25s this year means that 37,000 more young men and women have become eligible to enrol in 165 priority qualifications, through Free TAFE or Free Apprenticeships.“More than 30,500 young Queenslanders now have accessed our free training, including over 27,000 apprentices and trainees,” Ms Farmer said. /Public Release. This material comes from the originating organization and may be of a point-in-time nature, edited for clarity, style and length. View in full here. Why?Well, unlike many news organisations, we have no sponsors, no corporate or ideological interests. We don’t put up a paywall – we believe in free access to information of public interest. Media ownership in Australia is one of the most concentrated in the world (Learn more). Since the trend of consolidation is and has historically been upward, fewer and fewer individuals or organizations control increasing shares of the mass media in our country. According to independent assessment, about 98% of the media sector is held by three conglomerates. This tendency is not only totally unacceptable, but also to a degree frightening). Learn more hereWe endeavour to provide the community with real-time access to true unfiltered news firsthand from primary sources. It is a bumpy road with all sorties of difficulties. We can only achieve this goal together. Our website is open to any citizen journalists and organizations who want to contribute, publish high-quality insights or send media releases to improve public access to impartial information. You and we have the right to know, learn, read, hear what and how we deem appropriate.Your support is greatly appreciated. All donations are kept completely private and confidential.Thank you in advance!Tags:Australia, education, employment, Engineering, Government, health, infrastructure, Investment, Palaszczuk, President, QLD, Queensland, Skills, Small Business, TAFE, TAFE Queensland, vocational education, womenlast_img read more

WorkCover Board reviewers appointed

first_imgWorkCover Board reviewers appointed Elise Archer,Minister for Workplace Safety and Consumer AffairsFormer Coroner Rod Chandler and workers rehabilitation and compensation policy expert Liz Gillam have been appointed to undertake an independent statutory review of the WorkCover Tasmania Board.Both Ms Gillam and Mr Chandler have extensive knowledge and experience, and will consider the Board’s structure and function in light of amendments to the Workers Rehabilitation and Compensation Act 1988 that made the Board skills-based rather than representative.Ms Gillam is a former State Servant with extensive governance experience who worked on the development of workers rehabilitation and compensation legislation and also served as Chair of the Tasmanian Electoral Commission for seven years.Mr Chandler was a Coroner in Tasmania from 2010 to 2016 and has also served as a part-time Workers Rehabilitation and Compensation Commissioner.The review will include targeted consultation with stakeholders and is required under section 164D of the Act.Members of the public can make a submission via the Department of Justice Community Consultations website at https://www.justice.tas.gov.au/community-consultation.The terms of reference for the review can be downloaded from the WorkSafe Tasmania website at https://worksafe.tas.gov.au/ /Public Release. This material comes from the originating organization and may be of a point-in-time nature, edited for clarity, style and length. View in full here. Why?Well, unlike many news organisations, we have no sponsors, no corporate or ideological interests. We don’t put up a paywall – we believe in free access to information of public interest. Media ownership in Australia is one of the most concentrated in the world (Learn more). Since the trend of consolidation is and has historically been upward, fewer and fewer individuals or organizations control increasing shares of the mass media in our country. According to independent assessment, about 98% of the media sector is held by three conglomerates. This tendency is not only totally unacceptable, but also to a degree frightening). Learn more hereWe endeavour to provide the community with real-time access to true unfiltered news firsthand from primary sources. It is a bumpy road with all sorties of difficulties. We can only achieve this goal together. Our website is open to any citizen journalists and organizations who want to contribute, publish high-quality insights or send media releases to improve public access to impartial information. You and we have the right to know, learn, read, hear what and how we deem appropriate.Your support is greatly appreciated. All donations are kept completely private and confidential.Thank you in advance!Tags:AusPol, Australia, Commission, Commissioner, community, compensation, Department of Justice, electoral commission, Government, justice, legislation, Minister, Safety, TAS, Tasmania, Tassie, terms of reference, websitelast_img read more

BMW is finally building an M3 wagon, but not for North America

first_imgIt’s a well-known fact among automotive enthusiasts that a wagon is the perfect vehicle — simultaneously SUV-practical yet functionally car-based, they typically offer ample cargo space while handling like a car instead of some jacked-up truck.Not only is the performance enticing, but wagons also have quite an attractive shape, and, believe it or not, they’re fairly aerodynamic. Hopefully – hopefully – BMW sees there are as many of us that enjoy wagons as there are people who enjoy manuals, and the company’ll make the right decision. RELATED TAGSBMWNews Trending Videos The Rolls-Royce Boat Tail may be the most expensive new car ever SHARE STORY But BMW has never yielded to those demands from customers. Well, until now. COMMENTSSHARE YOUR THOUGHTS https://www.instagram.com/p/CDy5GTKCSew/BMW M confirmed via a teaser it would build an M3 Touring for 2022 using the powertrain from the upcoming M3. That means a 3.0-litre twin-turbo six-cylinder producing 480 horsepower, sent to the rear wheels via a manual transmission, with all-wheel-drive optional.The styling will likely follow that of the next-generation M3, although obviously with a longer roof. BMW says it will begin testing on the Nurburgring very soon to kick off the two-year development process.RELATEDWant a 2019 Mercedes-AMG C43 AMG Wagon? Your pickings are slimPractical Performance: 6 vehicles that are both fast and usefulThere is, unfortunately, another wrinkle to the wagon story. While European countries have been reaping the benefits of the wagon for years, us poor losers across the pond have been stripped of the car-based wagon almost entirely. Seems people here would rather have a truck or an SUV than a wagon, and thus companies haven’t bothered to offer too many to us.Motor Authority‘s got confirmation there’s no plans to bring the model Stateside, and we assume that means Canada’s not getting it either; we’ll let you know if we hear different, though. The BMW M3 has long been a benchmark for sedan perfection, and for as long as it’s been available to the public, people have been asking for a wagon version — that’d kill two birds with one stone, truly creating the ultimate driving machine. We encourage all readers to share their views on our articles using Facebook commenting Visit our FAQ page for more information. See More Videos PlayThe Rolls-Royce Boat Tail may be the most expensive new car everPlay3 common new car problems (and how to prevent them) | Maintenance Advice | Driving.caPlayFinal 5 Minivan Contenders | Driving.caPlay2021 Volvo XC90 Recharge | Ministry of Interior Affairs | Driving.caPlayThe 2022 Ford F-150 Lightning is a new take on Canada’s fave truck | Driving.caPlayBuying a used Toyota Tundra? Check these 5 things first | Used Truck Advice | Driving.caPlayCanada’s most efficient trucks in 2021 | Driving.caPlay3 ways to make night driving safer and more comfortable | Advice | Driving.caPlayDriving into the Future: Sustainability and Innovation in tomorrow’s cars | Driving.ca virtual panelPlayThese spy shots get us an early glimpse of some future models | Driving.ca last_img read more